IDBI Bank bidders need to seek MHA security clearance in bidding process ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 17
In a first, the government has made it mandatory for interested buyers of IDBI Bank to provide details for security clearance from the Ministry of Home Affairs (MHA) in the first stage of the bidding process. So far, in all instances of CPSE privatisation, the government would seek details regarding security clearance of the bidders at the second stage of the bidding process. This meant that bidders who qualified in the first or the Expression of Interest (EoI) round, were required to seek security clearance from the government while placing their financial bids. Inviting Expression of Interest (EoI) from bidders for buying the government and LIC's 60.72 per cent in IDBI Bank, the Department

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